Bannix Acquisition Corp. Announces a Binding LOI to Complete a Business Combination with an Autonomous Vehicle Technology Company
WEST HOLLYWOOD, Calif., April 21, 2023 (GLOBE NEWSWIRE) — Bannix Acquisition Corp. (“Bannix”: NASDAQ:BNIX) announced today that on April 17, 2023, it entered into a Binding Letter of Intent (“BLOI”) that provides for Bannix to execute a definitive agreement with respect to a business combination (“BCA”) with EVIE Autonomous Automotive Ltd. (“EVIE Autonomous” https://evieautonomous.com/), a U.K.-based autonomous vehicle technology company acquired from Aim Technologies Group by the well-known British automotive entrepreneur Steven Lake. The entire business combination transaction consideration will be paid with securities of Bannix. No cash consideration will be paid.